【BiTu Daily News Highlights】Federal Reserve Chair candidate Rick Rieder once stated that Bitcoin will replace gold and advised investors to hold Bitcoin in their portfolios; Trump: Not worried about dollar devaluation, it can rise and fall like a yo-yo; Tether will realize approximately $15 billion in profit by 2025; Standard Chartered Bank warns that stablecoins could drain $500 billion in US bank deposits by 2028.

Daily selected Web3 news from Bi推:

【Fed Chair Hot Candidate Rick Rieder Once Said Bitcoin Will Replace Gold and Recommended Investors Hold Bitcoin in Their Portfolios】

Bi推 reports that, according to CoinDesk, the leading candidate for Fed Chair, BlackRock Global Fixed Income Chief Investment Officer Rick Rieder, once stated that Bitcoin will replace gold and advised investors to hold Bitcoin in their portfolios. In the prediction market, Rieder’s chances of being elected have rapidly risen to the top, and he has publicly supported cryptocurrencies multiple times.

As early as 2020, when digital assets were still in their early stages, he told CNBC that Bitcoin would replace gold as a store of value, “because it’s much more convenient than passing around a gold bar.” Recently, he stated on the same media that Bitcoin should be part of a smart investment portfolio, and called Bitcoin and gold “assets that can provide some stability to a portfolio.” At that time, Bitcoin was still above $112,000, and he predicted “it will continue to rise.” Currently, Bitcoin is about $88,000, having recently fallen due to potential tariff measures and other geopolitical turmoil.

Rick Rieder has openly expressed dissatisfaction with the Federal Reserve’s slow pace of rate cuts, similar to Trump. In a recent interview during the Davos forum, Trump praised him as “excellent.” Currently, on Polymarket, the probability of BlackRock Global Income Chief Investment Officer Rick Rieder becoming the next Fed Chair is 46%.

【Trump: Not Worried About Dollar Depreciation, Can Make It Rise and Fall Like a Yo-Yo】

Bi推 reports that U.S. President Trump said he believes the dollar’s depreciation is not significant, calling the dollar “performing well,” and expects currency values to fluctuate. When asked if he is worried about dollar depreciation, Trump said: “No, I think the dollar is performing very well. I want it to return to its proper level, which is reasonable.” Trump also hinted that he could manipulate the dollar exchange rate, saying: “I can make it go up and down like a yo-yo.” But he described this situation as unfavorable, comparing it to hiring unnecessary workers to fudge employment data, and criticized Japan for trying to devalue its currency.

The US Dollar Index DXY initially rose slightly during Trump’s comments, then sharply fell over 50 points, hitting a new low since February 2022. Non-dollar currencies gained momentum, with offshore RMB approaching 6.93 against the dollar, and gold continuing to hit new highs above $5180 per ounce.

【Tether to Achieve About $15 Billion Profit in 2025】

Bi推 reports that, according to Fortune, Tether is expected to make approximately $15 billion in profit in 2025. Tether’s holdings of U.S. Treasuries have surpassed those of large economies like South Korea, and it has also heavily allocated to Bitcoin and gold.

According to data from CoinMarketCap, as of early January, USDT’s market cap reached $187 billion, with daily trading volume surpassing the total of all competing stablecoins—despite the fact that, in the U.S., American citizens are generally not allowed to use Tether’s stablecoins, except in rare cases. Today, Tether’s ambitions go beyond just the financial sector. Over the past two years, it has made large-scale investments in satellite, data centers, agriculture, telecommunications, and media sectors.

【Standard Chartered Warns Stablecoins Could Withdraw $500 Billion in US Bank Deposits by 2028】

Bi推 reports that, according to The Block, Standard Chartered released a report stating that the accelerated adoption of stablecoins could withdraw up to $500 billion in deposits from the U.S. banking system by 2028, posing a significant threat to regional banks relying on deposit spreads.

The bank estimates that by then, the stablecoin market cap will reach $2 trillion, with one-third coming from developed markets. Regulatory uncertainty and legislative delays are also seen as amplifying risks.

【Mesh Completes $75 Million Series C Funding, Led by Dragonfly Capital】

Bi推 reports that the crypto payment network Mesh announced the completion of $75 million in Series C funding, with a post-money valuation of $1 billion, led by Dragonfly Capital, with participation from Paradigm, Moderne Ventures, Coinbase Ventures, SBI Investment, and Liberty City Ventures. The company has raised over $200 million in total. The funds will be used to accelerate expansion in Latin America, Asia, and Europe, and to promote product development.

Mesh positions itself as a asset-agnostic unified payment network, covering over 900 million users, supporting payments with Bitcoin, Solana, and other assets. Merchants can settle instantly using stablecoins like USDC, PYUSD, or local fiat currencies, with some of the current round also settled in stablecoins.

【White House Cryptocurrency Advisor: Davos 2026 World Economic Forum Will Be a Turning Point for Global Cryptocurrency Normalization】

Bi推 reports that White House cryptocurrency advisor Patrick Witt said that the Davos 2026 World Economic Forum will be a turning point for the U.S. government to turn digital assets into a permanent asset class, reaffirming the president’s commitment to making the U.S. a global crypto capital. Witt pointed out that stablecoins have become a gateway to global finance, and the government is working to establish a symbiotic relationship between traditional finance and emerging crypto forces.

Currently, the Senate Agriculture Committee plans to review the Market Structure Act at 10:30 on January 29. Although the Senate Banking Committee has delayed the review due to issues like stablecoin incentives, the legislation is expected to be ultimately submitted for Senate vote. Additionally, the government plans to shift focus to developing crypto tax legislation after the Market Structure Act passes, and will continue to monitor asset seizures related to national security actions involving countries like Venezuela.